Student Loan Scams 1 - Sallie Mae, Part 3

[Gentilejedi]

I hope his golf course is built right on a sinkhole.

[MrChriscoleman2030]

@Gentile Jedi I pray the company goes bankrupt and all those RICH Buttholes lose their houses and cars just like must of us americans did!

[DoubleTalkingJive]

@Foreshadow44 Didn't they sue you? Can they throw you in jail??

[Keitaro2011]

He can't get a good job to pay off his debt... Because he's in debt?!

What... The... Fuck... Seriously, what the fuck? How can anybody see this as ANYTHING other than a mental illness?

[Brett9897]

@Keitaro2011 ehh it kind of makes sense. The type of job he wants requires a security clearance. You can't get a security clearance if there is reason to believe that you can be coerced into giving up classified information. Obviously if you are in debt there are a lot more buttons people can push to get you to give up that information.

[moistfaucet]

so sad that many american carry a debt in their life time.

[Bllackguard666]

I have a gift for Al Lord: A 7.62x51 to his face.

[TheChromelover]

Why should security clearance be tied to credit worthiness. That is ridiculous. Aerospace Engineering is a very sophisticated field and not many study that. So anyone who is an american citizen, who is good in that subject and whose criminal records are clean should be given security clearance. Don't you agree?

[swirlcrop]

Tufts University in Medford, MA makes millions each year from private lenders. They are con artists.

[samantha34ize]

student has the right to refuse to pick sally mae . i got my money fomr giv loan

[trrrewr]

If you have loans with Sallie Mae and want to consolidate them elsewhere, you can forget that too. You can send them $1,200 a month and you'll still somehow be past-due or in default, therefore unable to consolidate them with someone else. I've had a lawyer working for almost a year now just trying to get a straight answer from them on what exactly my monthly payments are suppose to be.

[psbjr]

The only thing that could stop this is mass protest/civil disobedience and relentless pressure on legislators. Ppl have to organize if they want change.

[Jinxguy1000]

Let's be brutally honest. Can anyone in America compete with the wages/salaries of people in China? No. So much for college.

[redskins1111]

Thank you for posting these and I wish I would have known more. I do teach at a community college part time and want to become full time. Luckily I have my parents pay for my bachelors and I got a teaching assistant for masters degree. I am actually going to try to get a manager position and going to take business classes. Even with my technical skills its hard.

[isthattrue212]

You have a unique choppy style.  It really works. It gives your videos a sort of underdog street credit sort. This is great content. Amazing stuff.

[lestrueseek]

Its a catch 22 you get trapped in debt if you go to college but if you try to find a job without a degree no one will hire you and in there job descriptions they require you to have a degree. So I think that all of the system is rubbing each others backs.

[tbcpuebla]

And what do the students do with the money? Well, I think most of the time they use it appropriately. But, sometimes they waste the money going to spring break to get drunk and have a lot of sex. Great business for the resorts!!

[blikemike05]

Dont Be an idiot, Your great credit rating is only a liscense to go get into more debt, PAY CASH FOR EVERYTHING, DO NOT use the credit, debt system , you will be a slave if you do !!! Good credit is an illusion, to get you to go and borrow !!! If you dont use credit and pay cash for everything, you will build wealth instead of DEBT. DONT BE A SUCKER TO FICO AND THE CREDIT REPORTING AGENCIES. PAY FOR YOUR STUFF with the 100% down payment plan !!!!!!!!!!!!!!!

[WonderWomanFan4life]

dude you did a great job with this documentary.. wow what insight... you done good bro.thanks for opening my eyes.. yeah like his credit probably sucks ass because of student loan

[HTB9919]

this guy is great

[misdelivery]

I wish I had just gone into sales. 

[Russ0257821]

I got a Bachelor's in Accounting in '08, passed the CPA exam in summer '09 and I couldn't even get a $9/hr job as an accounts payable clerk. Now I belong to a labor union doing construction and electrical work. I have learned more from this job in 6 months than the 5 years earning a CPA.

Do NOT go to college. You won't learn ANYTHING useful.

[Rockynurse]

@Russ0257821

Really?

I know some dumb girl that just landed a really sweet 55k per year job at a regional PA firm. She has under a 3.4 gpa and has not yet passed the CPA exam. I haven't known any graduates that graduated from a AACSB accredited business school with above a 3.5 gpa, passed the CPA and still couldn't find a job. I guess if you really suck at interviews you could be screwed.

Seriously some mediocre B schools have a 60% placement with the Big 4 firms.

[Russ0257821]

@Rockynurse No, I know how to navigate an interview, for the few firms/companies that took the time to interview me. That's funny you should say that, The Onion website recently came out with an article entitled "Unemployment High Because People Keep Blowing Their Job Interviews".

[Rockynurse]

@Russ0257821

Did you attend a AACSB accredited business school?

Was your GPA above 3.5 overall and in accounting?

Did you join Beta Alpha Psi?

Did you take an internship?

Do you have a criminal record or a bad credit history?

i am curious since accounting is the most employable major right now besides nursing.

[Russ0257821]

@Rockynurse aacsb AND separate accreditation in accounting. It was in Louisiana. I had 3.4 overall, 3.0 in acct'ing.

I applied to over 100 places from B.R. to N.O., I got 7 interviews, but was not hired. One of them was unpaid.

No criminal history, never even had a traffic ticket.

I have an excellent credit score. I worked odd jobs in college so I paid off loans b4 i even graduated (cheap tuition).

I also heard accounting was an employable major, that is one of the reasons I studied it.

[Rockynurse]

@Russ0257821

The 3.0 in accounting is the thing that is killing your job possibilities. Your right at the bare minimum even the least selective firms hire. Accounting is employable statistically nationwide about half of all accounting undergraduates had secured a job before graduation last year. Passing the cpa matters but accounting firms want it all now. If you have it all you will get a job.

The California state government has a continuous hire for auditors.The job only pays 30-40k

[Rockynurse]

@Russ0257821

You haven't answered my questions. If the anwer is yes to the former 4 and no to the latter then I would be surprised. If you have a less than 3.5 gpa from a non-AACSB accredited school and a bad credit history it doesn't matter that you passed the CPA. Firms want it all now that the economy is in the gutter.

[Russ0257821]

@Rockynurse I didn't join BAP, which I regret.

wait a sec- you said if I have < 3.5 nobody cares a/b the CPA? I don't believe that.

Besides, I'm not too worried about it. I have a decent union job. when the economy rebounds I'll try to get into the accounting racket again. I know a few girls who graduated from LSU law school and are now waiting tables, and the same with some engineering grads. It seems the pencil-pushing jobs are drying up. Are you a RN? now THAT is job security!

[Rockynurse]

@Russ0257821

No I am not an RN. Nurse was my rugby nickname.=P RNs have a shit job I used to audit insurance billings in a hospital in high school and let me tell you. STAY THE HELL OUT OF HEALTHCARE IF YOU HAVE THIN SKIN. Nurses have an obscenely hard job and they get paid for the shit they put up with.

[runhorun]

This make you wonder why people do not turn into criminals and take shit into their hands. This is not the land of the free, more like, "slave of the banks". Now, think of this, If no one pays.........sallie mae is shit out of luck. I would just pay what I originally borrowed and that is it. The only profit you are getting out ot me is a middle finger.

[uncoverbrother]

sallie mae better leave that engineer alone. he looks like he's ready to go postal on that next collector who calls!

[atlasshrugged2u]

How can Elitist's like this (Sallie Mae) sleep at night?...GOD!!

[Rockynurse]

@atlasshrugged2u

They sleep very well in a nice expensive bed. Sociopaths are completely content with screwing people over. Seriously the idiot who took out the loans is more to blame than sally mae. Keep your debt low and major in something useful and you will be fine!

[atlasshrugged2u]

@Rockynurse I hear ya babe and I totally agree. It's still ashame though because when your young you just "want what you want" they do have to learn that it's not FREE MONEY. So yeah great point!

[AxiomaticObserver]

Yeah, well, nobody made these people go to College and take out those Student Loans. They made the choice to do that and now they have to live with their mistake. Sallie Mae is a business so their sole purpose is to make profits and obviously they are doing a good job of it.. :/

[TheCashistrash]

sad but people with bad credit scores will not be able to get certain types of jobs. The new type of descrimination. Paying for education is a big scam especially since school is overpriced and no jobs to get once ur finished. Whats the point get out of school with 60k dollars in debt to make 10 dollars an hour when you get out.

[blueswan1984]

My hope goes to Alan, he deserve that engineering job. Wish I had a time machine so I could go back to 1999 and help the guy out. It's sad when you accomplished something and it made your life worst when it is suppose to make it better.

[lerxt42]

dont have anything to do with these fucking leaches

[shannwil]

America has let the people down. Democrats and Republicans both.

[5ballcharlie]

@shannwil

you can say that shit again!!!!

[jmelkis]

Part of the reason they won't work with people is that they know they will get their money one way or another, either from the individual or the government, so they have no incentive to be lenient. Other companies are afraid of default, so they might cut some slack just to make sure you continue to pay something as opposed to losing everything. Plus, they know you can't declare bankruptcy and get rid of them.

[lerxt42]

I just got a lovely hand witten letter this afternoon from our wonderful sallie telling me thay are taking me to court because I defaulted on my loan. Fuck them I honestly don't give a shit

[5ballcharlie]

@lerxt42

how did that turn out?

[AM648]

@lerxt42 Yep, that's about to happen to me soon as well, isn't the American dream awesome? Where in said dream you get anally raped by Sallie Mae? They can kiss my hairy cheeks, and not talking about the one's on my face XD

[starlost1957]

@lerxt42 Sallie Mae is a Mobster connection! They just add more on your loans, NOT break your legs.

[certifiedgangster05]

0:24 look at his face he is so miserable because of the debt and no work... how could they do this to him, he is soo young

[lovemydobe]

Isn't that so great, a person's home gets destroyed and the government helps them...a little but still lets them go homeless. Sallie Mae rips off millions of people and the government thinks the sun shines out of their ass.

[miragin7]

Good people .. Shit system ! ..

[ImNotYourFriend212]

wtf. so this poor dude went to college for engineering and basically, because he went to college for engineering, he can't get an engineering job? Omfg. Isn't this the best country ever?

[KingDrudge]

i'd get this man a one-way plane ticket to China. Plenty of jobs over there (since they actually produce things).

[jmelkis]

Yeah, but does he speak Chinese?

[1XMarksSpot]

@KingDrudge What kind of jobs? I heard the wages and salaries are pretty shitty in China lol.

[lerxt42]

@ImNotYourFriend212 dude I went and traines as a medical office assistant , passed the licensing exam 100% and still cant get a job cos i am a guy aint life grand

[jmelkis]

They won't hire guys?

[jmelkis]

It's like Sallie Mae ruined his ability to do what he was trained to do because they have no incentive to help anyone out. Yes, they will defer, but only for a while. Eventually, they just the government pay them, and your credit gets ruined meanwhile. Sickening!

I'm a libertarian, so I'm opposed to government intervention in the marketplace, but even I would support the direct loan program over this scam anyday. This kind of crap is why I am critical of government....

[karatechopu2]

@ImNotYourFriend212 He's an engineer. He could have gotten a job but he had to of had some serious poor grades. This guy could have done several things to avoid the hole he dug himself into. Sallie Mae would have lowered the payment a great deal had he to tried to reason with them. That's what I did for a couple of months. But you can't just STOP making payments. That's just asking for it.

[cramsa]

@ImNotYourFriend212

Employers check your credit... especially for stuff involving money etc... at lest 60%. The guy's credit was shit, so most of the time a company would not hire.

[MrChriscoleman2030]

@ImNotYourFriend212 YES IT IS LOL!!

MY SISTER IS IN THE SAME BOAT WENT TO COLLEGE AND CAN'T FIND A GOOD PAYING JOB.

When myself being a truck driver and no college degree is doing better (not too much) but better never-the -less. AND WHAT'S UP WITH THE 4 DISLIKES!??!

I guess it must be 4 sallie mae top bosses or someoone in congress that don't like this video LOL!

[kmcl11]

Wow i had no idea that there was competition for sallie mae....my counselor simply had me fill out a form and poof...i took out a loan from sallie mae...what a dumb govt for allowing this.

[jmelkis]

My school made it harder to get a loan from anyone else but Sallie Mae. Their real name is something like SLM, so I call them SLIME!!!!

[conquerorofbabylon]

Well I enlisted for six years and now the GI Bill pays for my education. Before that I had to take out student loans. The military isn't for everyone and if there is a war you may not live but, you'll be loan free.

[dan020350]

to kill innocent people......... i don't know can i do that ? If there is no war going on, the military would be booming , but as unemployment increases it also booms. o well

[conquerorofbabylon]

They're not innocent, they're trying to kill you. There's a bigger picture out there, some are able to grasp it, some not. It's not for everyone. Now we have the New GI Bill, that pays cost of living and books, as well as the good old tuition assistance.

A professional volunteer military is finally getting what they deserve. Modern benefits.

[dan020350]

i thought they are trying to kill you because you are trying to kill them ?

[conquerorofbabylon]

The innocent don't try to kill anyone.

What makes you think American soldiers want to kill innocent people?

[dan020350]

i didn't say American soldiers. I just say you.

[conquerorofbabylon]

You obviously have no idea who you are addressing and that's not OK. I'll take the time to inform you. I was a mental health specialist who counseled American soldiers in the combat zone. I was the only one to defend a soldier charged with cowardly conduct. I am an asset to my country, an asset to my family and an asset to my fellow soldier. The philosophies I prescribed to were implemented on the largest scale on the planet. You my friend have been informed.

[dan020350]

lol....thats a good thing you defended a soldier charged with cowardly conducted yet it may not be a good thing for obedience of martial law. but thats not the point but the misunderstanding here is the word you* ? What or who is you? When someone calls me great and the other person calls me a fool or dull? What is this you*? I think once you tell me this, i can move on. ........

[conquerorofbabylon]

You think this mental masturbation is interesting? You are who I'm addressing. You are the form you wish to disassociate yourself from. Identity plays an integral part in our function and self esteem, it's a disaster to abandon it, it's a disaster to neglect it. It opens the door to mental slavery.

[dan020350]

I'm trying to understand your answer.......... The word " You*" is a form or system of mental masturbation. It sounds about right, yet its not perfect yet. IF you want i can make it perfect , but you will have to lose to my opinion if you choose.

[conquerorofbabylon]

I will lose so that I may gain. Enlighten me.

[dan020350]

Yes. You have won.

[jmelkis]

They may not want to kill innocent people, but it happens in war, like it or not. It's almost inevitable. Am I judging? No.

[1XMarksSpot]

@conquerorofbabylon You should pay attention to the details of the New GI Bill on a state by state basis...

[waverly2468]

I have an accounting degree that I haven't used. I lost interest in the subject after I graduated. The office jobs I had didn't require an accounting degree. My degree is glorified office skills. It's hard to predict your future, and it seems like a REALLY bad idea to go into serious debt to get a degree that you may or may not use for anything. I cringe whenever I hear Oprah encourage people to go to college without warning them about student loan debt.

[DontGoToCollege]

High profile people like Oprah are being irresponsible by not telling people about the consequences of college debt.

[jmelkis]

Yeah, what does she care? I mean, she's loaded!

[jmelkis]

Maybe she owns shares in Sallie Mae herself! :D

[waverly2468]

Anybody who invested in SLM has lost most of their money. Check the stock quotes. SLM was at 55 three years ago. Like most financial stocks, it has cratered. It is now at around 12. Cool!!

[1XMarksSpot]

@waverly2468 Yep! I jumped ship when it was down to 50, while my friends held on to the stock thinking it would rise dramatically. You know what happened after that...LOL

[yemonja100]

@DontGoToCollege Yes, this Black woman agrees! Obama counts as an Oprah too. I am giving my two cents we need more money going towards K-12 education so people can quit making dumb decisions after their public education. If you don't go to college, then you are nothing, that is the theory where I come from. I feel like nothing- I have a degree and the people sans degree are harping on me about working at a place that does not require a degree. I ain't rich, bills require money to be paid.

[starlost1957]

@DontGoToCollege Oprah is a lesbian. She loves the gay lifestyle like the others. You have to be bed chums with her if she decides to help you.

[littlemissanimecutie]

@starlost1957 Hey watch it now! BTW How did u like the help she gave you? What a ridiculous comment.

[1XMarksSpot]

@waverly2468 Wait...So you have an accounting degree that you got and haven't used, but instead went for office jobs and bitched about how you office jobs didn't require an accounting degree when you lost interest in the subject? LMAO That makes sense...

[WonderWomanFan4life]

@waverly2468

OPrah is probably working for them.. for all we know. Yes you are right she is always trying to get people to do this, that, buy this read this, wear this, dont do that? Glad that skank will be off tv soon

[starlost1957]

@waverly2468 Let Oprah pay for your College / University Degree Program